All Forum Posts by: Rene Hosman
Rene Hosman has started 60 posts and replied 456 times.
Post: Wanting to learn from a pro how to invest and earn income flipping houses?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Quote from @Joe S.:
I will probably buy the audio version.
Yes! If you like audiobooks, there's a BiggerPockets audio subscription that gets you all the audio books and all podcasts ad free for only $100 per year! https://biggerpockets.supercast.com/
Post: How do you do bookkeeping and financial reporting for your rentals?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
For those of you who responded can you tell me about what software you use and the pros/cons?? My personal experience is managing ~4 MTR/LTRs but I'm feeling like I need to expand to something more automated
Post: How do you do bookkeeping and financial reporting for your rentals?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
It's almost that time of year again... No, not the holidays. I mean tax season! I've been an excel bookkeeping person for a while but I think it's time to level up now that I'm doing my first BRRRR. I'm planning to get a bookkeeper to help keep me organized and on top of things as I hope to expand my real estate portfolio in 2025. I'm curious what you all do for your do bookkeeping and financial reporting for your rentals?
Post: What Do You Think Of All Of The Reverse Trolling in the Forums?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Quote from @Chris Seveney:
Quote from @Jonathan Greene:
First, let me define what I mean by reverse trolling. Reverse trolling is posing a vague question in your practice area to allegedly spur discussion, but it's always to get business.
It's technically avoidant of advertising or self-promotion, but it always is blatant self-promotion opportunity. It's a way to skirt the rules IMO.
Is it responder beware (and technically in compliance) or just trash?
-----
Here are some examples:
Real estate agent in Topeka - "Anyone have thoughts on the Topeka real estate market?"
Lender - "What kind of rates are you guys seeing on DSCR lately?"
Software developer - "What things do you look for in a CRM?" (owns a CRM company)
Wholesaler in Akron - "What types of homes do you usually look for when you are looking off-market in Akron?"
-----
I am curious about the general feelings out there because I can be a bit hypervigilant, and posts like these drive me nuts.
I typically just call them out. There was one where something on syndications and the person was saying how great a specific way to do things was - I called them out and said of course you are gonna say that as your company is a software company that does that. Atleast be upfront with people on it as your opinion is clearly bias.
I like this approach a lot Chris!
Post: Raising Down Payment Money
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Have you read Start with Strategy by Dave Meyer? I'd highly recommend this as Dave was young and had no capital when he started as well. He lays out in the book that people bring three things to a deal: time, capital, or skill. If you have no money you can try to earn equity in a deal with your time (finding deals, managing the property, etc), or skill (learn a trade, get your GC license, etc)
I read that book in Sept and wished I had read it sooner!
https://www.amazon.com/Start-Strategy-Design-Portfolio-Long-...
The book is on sale right now it looks like!
Post: I am 16 trying to get into real estate and have 200k
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Quote from @Robert Bishop:
Quote from @Jonathan Greene:
Quote from @Robert Bishop:
Quote from @Jonathan Greene:
You are off to a great start, but a post like this is just a bat signal for anyone and everyone to pitch you something because you have saved so much at such a young age. Keep doing what you are doing and start going to real estate investor meetups in your area every month. Talk to house hackers because that would be a great way to start, but you are also advanced with money so you may find smarter options that act more like index funds (syndications).
Read The Hands-Off Investor by @Brian Burke. It is a great primer on syndications and what to look for as an investor.
Just ordered it thanks!
Another option if you're looking for something with higher yield than index funds, that's hands off, and will teach you a lot about real estate investing without having to do it yourself could be investing in syndications which is referred to in the book Jonathan recommended. You can also message me if this is an option you're seriously considering and I'm happy to chat with you about BiggerPocket's private community for syndication investors called PassivePockets. It's a forum and community like these forums but dedicated to syndication investing and is only available to members of PassivePockets! You can start a free trial to take a look at https://passivepockets.com
Post: Problem with architect
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Quote from @William Hutch:
I don't know if NJ is the same but in NYC you need to file the drawings. Perhaps he doesn't want to change them because he knows they need to be refiled. Plus a contractor will ask for every single change that benefits them. As an architect myself, we draw the line in the sand. Unless there is a conflict in the drawings that we didn't pick up we wouldn't update our drawings each time the contractor asks.
This is really good insight from an architect!
As someone in an HOA that doesn't have clear architectural drawings on where our plumbing is and who is connected where, I can say it would be very helpful to have this in general. Has the town already approved the current plans you have submitted? I can see how there would be confusion on the Architect's part if their job was to draft plans for the city and then the city has approved the plans as is. But I'm surprised they're just outright refusing and I wonder what the reason is?
Post: Wanting to learn from a pro how to invest and earn income flipping houses?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
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Post: How nice should a rental's basement be?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Quote from @Jonathan Greene:
Quote from @Alec Jacobs:
I am wrapping up a lot of the rehab of my first rental property and I was wondering how a basement of a rental should look like?
It has a typical unfinished basement with a concrete floor and there shouldn't be any reason to go down there except to do your laundry.
I know this is a nuanced topic and it is probably market dependent but I can't find any pictures of rentals' basements on listing sites.
Any insight is welcome. Thank you!
If all of the comparable properties don't have basement photos, they are probably the same or worse. If it's just a laundry room, it's really tenant's choice. Good storage. It doesn't sound like you need to do anything with it in your market.
Agree with Jonathan! Look at the comps in your market, having extra storage is a bonus so as long as it has working electrical I wouldn't spend much time or money on it other than making sure it's clean for showings.
Post: Who is Bob Stevens AKA Bob Prisco and what's his involvement in Cleveland?
- Rental Property Investor
- Denver, CO
- Posts 563
- Votes 595
Hello all! Thank you all for your opinions and insights, in light of the recent information we have banned Bob Prisco from the forums effective immediately for breaking numerous forum rules. Anyone can view our rules at any time here for reference https://www.biggerpockets.com/rules
Transparency is key in the forums and in real estate so we take it very seriously when folks are intentionally obscuring facts.
We do not want to troll people so since it seems like there has been a lot of discourse and viewpoints expressed so we will be closing this thread but will leave it visible for the community to see for future reference.
If you have any questions please feel free to reach out to me!